Abu Dhabi fund CYVN invests $2.2bn in Nio
This follows an earlier investment of $738.5 million by CYVN in July.Company News Business
Russia’s Gazprom sets new daily record for gas supplies to China
Moscow, Russia--Gazprom has set a new record for daily gas supplies to China via the Power of Siberia pipeline on...Business
Kuwait aims to be the hub for electric carmakers in Middle East
Kuwait Ports Authority (KPA) has approved a proposal to build the Middle East’s first city to serve electric vehicle manufacturers,...RAK Properties net profit rises 348% to AED120m in H1
Revenues of the UAE-based real estate firm, which is listed on the Abu Dhabi Stock Exchange, grew by 121 percent...Engie roped in for energy-efficiency project at Riyadh airport
The project is aimed at reducing energy demand and costs at the airport and ensuring reliable supply through clean and...US gears up to sell 18 military choppers to Israel for $3.4 billion
All 18 choppers are Sikorsky CH-53K King Stallion heavy-lift helicopters, and will come fitted with weaponry provided by Lockheed Martin.Licenses issued by Ajman rise 117 percent in H1 2021
Bulk of licenses issued to building maintenance activities, restaurants import and export, retail of canned and preserved foodstuffs.Oman bans network marketing, pyramid schemes
The authorities will impose a fine of OMR 5,000 (nearly $13,000) on anyone who is found violating this ban, with...Private firms in Oman can use government evaluation system
The existing method of appraisal is based on work experience, an employee’s behavior, and how long he/she spends at work.A project to extract water from air at Masdar soon
It will evaluate the performance of US-based water technology firm AQUOVUM’s Atmospheric Water Generation technology.Russian sway in Suez Canal Economic Zone to widen after deal
Egypt and Russia have signed a deal to allow the latter to expand its industrial zone within the Suez Canal...Luxury looks homeward as Covid curtails travel
LVMH -- home to Louis Vuitton, Moet, Fendi, and Kenzo brands among others -- saw first-half sales climb by 11...
In Brief
Most Read
Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains